Map of Casier

Map of Casier on In Volumes II and III of Capital, Marx examined the capital accumulation process to discover the laws of 228 economic theory, Marxian motion of capitalism. Marx contends that competition between capitalist firms forces them to invest in new technology to save on labor costs and increase profits. The new technology yields the employing firm higher profits at the expense of other capitalists since their composition of capital rises. However, employing the new technique lowers the value content of the commodity by reducing the labor time socially necessary for its production. Other capitalist firms would soon have to adopt the new technique to remain competitive. When this process is complete, the surplus value would no longer be transferred between firms and the profit advantage disappears. However, capitalist firms as a whole will find themselves with a higher composition of capital, and as shown in the profit equation, this lowers profits at a constant rate of exploitation. Map of Casier 2016.

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Map of Casier

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